Vancouver sales increased 44 per cent on the month and 24 per cent from July 2019.
Canadian home sales surged to a record in July as homebuyers emerged from lockdowns.
Transactions for existing properties reached 62,355 in the month, up 26 per cent from a month earlier, the Canadian Real Estate Association reported. Benchmark prices were 2.3 per cent higher on the month, as pent-up demand for homes collided with extremely low inventory levels.
More homes were sold in Canada in July than in any month in history… And, let me tell you, it sure felt like it!! Mortgage rates are at all-time historical lows, home owners are discovering that their current homes aren’t big enough, separations 😢 – all of these seemed to drive a flurry of sales activity.
Also, with rates so low, we saw many people refinancing and transferring their mortgages. What a summer… what a year! And we’re only in August.
It will be interesting, to say the least, to see what the rest of the year brings for the real estate and mortgage market.
Stay tuned! You know we’ll always keep you updated.
Angela Calla is a 16-year award-winning woman of influence and mortgage expert. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. She educates and empowers individuals on the “The Mortgage Show”, which she’s hosted for over a decade and is the best selling author of The Mortgage Code available on Amazon. All proceeds from her book sales are donated to Access Youth Outreach services, a local charity in our community supporting our youth.
Angela leads by example with passion and conviction. She is known as an industry expert on TV and radio and the go-to source for publishers across the Country. On top of all her achievements, Angela finds the time to be a loving wife and mother of two beautiful children.
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